In Italy, radio continues to enjoy a loyal audience, with over 36 million listeners every day, according to the latest data from TER (Radio Publishers Table) in 2023. However, the radio landscape is undergoing significant transformations, embracing a strong digitalization that has redefined audio consumption methods. New forms of listening, such as streaming on the web or smartphones and listening via podcasts, are emerging, enriching the radio ecosystem.
The addition of Web Radio and the explosion of on-demand streaming services, from Spotify to Deezer, have further expanded consumption possibilities. From an advertising perspective, there is a significant growth in investments in non-traditional audio media. According to Emarketer data, based on IAB, global spending on digital audio advertising reached $2.2 billion in 2023, up from $1.9 billion in 2022.
In this expanding context, we have developed an innovative product that leverages programmatic, bringing together major Web Radio stations, radio aggregators, and international on-demand streaming platforms. This provides the opportunity to purchase audio spots delivered before or during listening, with inventory available through DSP and the ability to use data for advanced targeting.
According to GroupM estimates, in Italy alone, more than 16 million people use digital streaming services every day. Capitalizing on this trend, we have created a product that not only adapts to new listening methods but also implements advanced targeting strategies. In collaboration with the GroupM Research & Insight team, we have included the Light Radio Listeners target, offering significant benefits in terms of incremental reach and cost savings for impressions (CPG) on a specific target.
Effectiveness, measurement, and evolution are crucial in the digital world. Audio campaigns can now be measured using parameters such as Listen Through Rate (LTR), with a benchmark exceeding 90%. This transparency allows clients to assess the actual impact of their campaigns.
The market is undergoing rapid changes, and informing operators and clients is crucial to capitalize on emerging opportunities. In Italy, despite a strong radio culture, there is still an untapped opportunity for traditional publishers to adopt programmatic buying platforms. The creation of an Italian marketplace could open new avenues for buying and selling, fully leveraging the potential of this dynamic audio ecosystem.
#DigitalRadio #ProgrammaticAdvertising #AudioStreaming #OnDemandListening